BOC Aviation, a global aircraft operating leasing company, has announced it has placed a new order for 50 Boeing 737-8 jets, expanding its 737 MAX portfolio to 215 737-8s and 737-9s.

Steven Townend, chief executive and managing director of BOC Aviation, said: “This order will enable us to continue providing our airline customers with technologically advanced aircraft for their future fleet growth.”

BOC Aviation currently has 69 737 MAX aircraft on operating leases to more than 15 airlines worldwide and will increase its Boeing order book to 139 unfulfilled orders.

Townend added: “With this transaction, we have commitments to purchase over 140 of these aircraft, which is the largest Boeing orderbook position in our history.”

Boeing predicts that over the next 20 years, single-aisle jets are projected to account for 75% of global deliveries. In response, lessors plan to build order books to support airline fleet growth plans and to replace less-efficient, older jet models.

“BOC Aviation’s latest investment in the 737-8 demonstrates the confidence lessors have in this airplane to meet continued air travel demand and improve fuel efficiency,” explained Brad McMullen, Boeing senior vice president of commercial sales and marketing.

“The 737-8 is much sought after by airlines due to its unmatched versatility, generating significant operational savings because of lower fuel consumption.” .

Currently, aircraft leasing companies have ordered more than 1,200 737 MAX jets in efforts to replace up to 300 Next-Generation 737s per year that are set to retire from passenger operations by the end of the decade.

With its seating capacity of between 162 to 210 passengers depending on configuration, and its range of up to 3,500 nautical miles (6,480 kilometres), the 737-8 is the market’s most versatile single-aisle airplane, able to operate profitably on both short- and medium-haul routes.